Guest blog by B4B Payments
As a proud corporate member of the Charity Retail Association, B4B Payments understands the operations of charities, especially in regards to tight budgets. To charities, every penny counts. Reporting and handling cash can therefore become a complex process and especially a stress for finance teams.
We’ve helped charities make the transition from cash to a cashless payment solution, allowing them the efficiency they need for volunteers, staff, clients or beneficiaries to stay compliant and to deliver a better experience. We were therefore delighted to start supporting Gilgal by providing them with our card payment solution.
How do we make digital payments in the charity sector?
For years, the charity sector has relied on physical cash for donations and as a general means of transaction. However, continuing this practice has become increasingly impractical in the digital age. Transitioning to new payment methods can seem daunting, but having clear, undeniable reasons for change can help ease the process. Charities like Gilgal, a compassionate charity offering support to domestic violence survivors, have benefited from transitioning to a cashless payment process.
The challenge
For Gilgal, supporting women and children with safe short-term accommodation away from dangerous domestic violence situations has been their primary goal for just over 30 years. But managing their finances has not always been easy for them.
Previously, they were relying on cash to provide aid to their beneficiaries which can often complicate the management and tracking of funds, increasing the risk of inefficiencies and potential non-compliance with regulations. When providing such crucial assistance to women and children in need, this management can seem overwhelming.
Keeping secure
Digital payments become challenging when beneficiaries lack a UK bank account. In these instances, a prepaid card offers a straightforward and secure way to deliver funds safely and in compliance with regulations. For charities, where every penny raised fuels their mission, having a dependable solution for transferring money is essential.
Charities similar to Gilgal using B4B Payments have been able to streamline their payment processes, reducing admin time and ensuring that donations reach their intended recipients quickly and safely. Gilgal reported that by improving expense management via B4B Payments, it was able to allocate more resources to support women and children in need.
Managing control
Staff and volunteers are often spread across various locations, and finance teams in charitable organisations can face significant challenges in tracking and controlling funds. Ensuring proper use of donations and budgets is crucial, yet traditional methods can be time-consuming and prone to errors.
Gilgal found that digital solutions like expense cards enable money to be managed safely and efficiently. Spending across hundreds of volunteers can be controlled from a single platform, accessible 24/7, reducing the risk of human error.
Sanja Kalik, the CEO of Gilgal, says,
Finding the right technology solution was important to us and our use case for an expense solution as a non-profit. We were impressed by the easy-to-use platform, dedication, and support that B4B Payments provided.
Source – 07/06/2024
Why B4B payments?
For those who spend money on the job, it’s common for receipts to be lost, cash to disappear, and reports to be left behind. Reconciliation and reporting can be challenging and intimidating. So after exploring options for expense management, Gilgal’s team decided on B4B Payments. With a unique knowledge and understanding of the charity sector from work with various other charitable organisations, we were able to offer Gilgal a solution that benefited them, as well as the survivors of domestic violence they assist.
Move forward with a payment solution
The only way to move forward is to embrace innovation with payment solutions like prepaid and expense cards; this next step is simple. B4B Payments provide uncomplicated solutions to outdated problems, offering tangible benefits like flexibility, efficiency, and enhanced security. With such clear advantages, embracing these tools is an innovative, forward-thinking choice for any organisation looking to streamline its financial processes.
B4B’s prepaid card solutions have transformed our expense management. It was simple to get started, and they have been very supportive.
Sanja Kalik, the CEO of Gilgal. Source – 07/06/2024
For further information, email business.development@b4bpayments.com or visit https://bit.ly/3DH8318
